China can destroy bitcoin

[maxilopez]

I am sure that no country can stop bitcoin. yes, thanks to manipulations, they can throw off its cost, but they can never destroy it because it is completely decentralized

[kanayaTabitha]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

for now there is no solution for that and China is very influential for the stability of bitcoin in the world because more than 60% of miners are from there. but it's just your expectation that blockchain technology has been developed by several coins. perhaps panic will occur which causes prices to fall but not destroy.

[zarintasnim]

China is a very big country and they have very big effect of cryptocurrency. But i am not agree that China can destroy bitcoin, Yes they have large number of population they mining it if they going to against bitcoin it not good for bitcoin, But they can totally destroy bitcoin.

[Marcsymon]

We all know that China is one of the most populated country throughout the whole world. If it is happen that they against bitcoin we can considered it as a big deflation of cryptocurrency, but they can't destroy totally the whole crypto world. Because there are many countries right now accepted bircoin legally especially in European countries.

[airdagon]

It seems to me that the rumors that China may destroy Bitcoin are too large. China is the same interested country in the development of cryptocurrencies like everyone else.

You are right, even crypto enthusiasts in China is very large, so, when the Chinese government banned crypto, the Chinese government cannot fight public demand.

and finally, the Chinese government has plans to create crypto, and they think to create crypto that has competitive values.

so, China will ban bitcoin and other cryptos, and control the crypto they create.

[airdagon]

We all know that China is one of the most populated country throughout the whole world. If it is happen that they against bitcoin we can considered it as a big deflation of cryptocurrency, but they can't destroy totally the whole crypto world. Because there are many countries right now accepted bircoin legally especially in European countries.

do you know that China controls the crypto trade until today?

when 50% of the crypto market trading is controlled by them, then this is a sign of crypto destruction.

China can control the volatility of bitcoin, they can make bitcoin die, and if bitcoin dies, the majority of other altcoins will be worthless.

do you know who made the value of bitcoin reach $ 20K at the end of 2017?

although there are other factors that make bitcoin reach $ 20K, but China more dominates.

[airdagon]

thanks for your comments, all your comments give me new knowledge about the development of the crypto world, crypto is the future, crypto is a technology that will control every transaction in our lives.

but, we have to be careful when the crypt world is controlled and regulated by China, they are greedy and never satisfied.

[Blockfolioz]

I don't think China has got such a power to destroy the bitcoin network. Maybe it has got the large mining firms and for the same it cannot have complete control over bitcoin as well other digital currencies. To me China is one of the country that supported digital currency growth during the early days into existence.

[aryaadikariyansyahsuwarto]

It is well known, China is currently dominating the world of digital currencies, and the average community there is a bitcoin fan. so whether or not the policies that apply there will affect the development of bitcoin ...

[karankamaze]

We all know that China is one of the most populated country throughout the whole world. If it is happen that they against bitcoin we can considered it as a big deflation of cryptocurrency, but they can't destroy totally the whole crypto world. Because there are many countries right now accepted bircoin legally especially in European countries.

they are not completely against bitcoin, it is evident that their exchanger is still one of the biggest contributors to crypto volume this year, they are still doing related research and indeed have to set certain limits so that there is no prolonged inflation

I am sure they still care because of their people very familiar with investment asset patterns, this is a potential business and finally they are only tight for the ICO and the exchange market at this time.

[West0813]

China has the ability and resources to destroy bitcoin. But i think they will not do it. Because if they want to destroy bitcoin. They had been destroy it in the past.

[tungaqhd]

Chinese governments cannot destroy bitcoin but they can make the price drops because they often ban exchanger and miner.

[hubballi]

We all know that China is one of the most populated country throughout the whole world. If it is happen that they against bitcoin we can considered it as a big deflation of cryptocurrency, but they can't destroy totally the whole crypto world. Because there are many countries right now accepted bircoin legally especially in European countries.

they are not completely against bitcoin, it is evident that their exchanger is still one of the biggest contributors to crypto volume this year, they are still doing related research and indeed have to set certain limits so that there is no prolonged inflation

I am sure they still care because of their people very familiar with investment asset patterns, this is a potential business and finally they are only tight for the ICO and the exchange market at this time.

You are right China is not against crypto but wanted to regularize it so that common people dont get scam like in most of the today ICO are scam. So if the regularization goes good then it will bring more positiveness in crypto world.

[Vickyrichy]

I don't think China can destroy bitcoin. There is this theory that most mining farms are found in China and majority of the coin holders are found in China but i don't think these can destroy bitcoin. If it was possible to destroy bitcoin, it would have been the early life of Bitcoin. Looking at the current state of bitcoin, it will be very difficult to destroy this coin.

[crypteris]

I think neither China nor any country can destroy Bitcoin. China is a powerful country that dominates mining and Bitcoin trading at the moment which affect negatively on their economy. But they can’t ban Bitcoin outside China. They can cause some damage and influence the price but not crash crypto.

[BillieCrypt]

I don’t think that China is interested in the destruction of Bitcoin. China only declares its negative attitude towards cryptocurrencies, and in fact most mining and equipment mining facilities are concentrated in China.

[anume123]

I don’t think that China is interested in the destruction of Bitcoin. China only declares its negative attitude towards cryptocurrencies, and in fact most mining and equipment mining facilities are concentrated in China.

Maybe that's true they dont have no intention in bitcoin to destroy. But bitcoin is already running in so many years and nothing news that china will banned or destroy bitcoin.

[Hartmas]

I think that they will not be able to replace the existing currencies, I do not know what will be there in a hundred years and what means of payment will be used, although I think no one knows.

[Froy]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

Such a number of people who need privacy can always be found. This is what can save the cue ball from collapse, but about its value, I have no illusions, it simply does not exist.

[bxipp]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

Such a number of people who need privacy can always be found. This is what can save the cue ball from collapse, but about its value, I have no illusions, it simply does not exist.

It will not enough to destroy Bitcoin to the ground. These day every regulation need investors to do kyc. So anonymity for cryptos are no longer relevent as the law keep strict everyday. We need to follow the book of law now. Anonymous look like gone now.